HOUSE EXCHANGE
1. I presently have a 30 year fixed FHA Mortgage (Balance $140K; House appraised at $160K)2. We would like to move to a house that's selling for $120K3. Our credit scores are 665, & 703 wife's4. I am USAF Retired with a full time job, wife does child care - together just over $80K yearly5. Based on the above data, what can we do to possibly secure the cheaper houseAny assistance is appreciated. by samnpu_919_365 from Valparaiso, Florida. Oct 14th 2012
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions
Most put their current hose for sale/ Then when it sells, they find a new house to buy. Usually the sale and purchase happen on the same day. Under that assumption, your basic numbers look fine. Talk to a realtor about selling your home and buying the new one and talk to a local licensed mortgage professional about your loan qualifications.
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Sell your current home.. once your under contract, you can go purchase another home.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
Steve Verrier (eqfsteve)
#56 ranked lender in Florida - 21 contributions
Good morning, Based on the information you provided here the odds are in your favor. We would specifically need to know your income and monthly debt figures to determine how much you would qualify for. I can help. Www.thefloridamortgagecenter.com
Steve Verrier (eqfsteve)
#56 ranked lender in Florida - 21 contributions
They can be done at the same time , but may not have to be. Determining your debt to income ratio will decide that. Www.thefloridamortgagecenter.com
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